The value of one more unit of a good or service is the
A) marginal cost.
B) opportunity cost of producing one more unit of a good or service.
C) marginal benefit.
D) minimum price that people are willing to pay for another unit of the good or service.

Question

Quizplus · Accepted Answer

The marginal benefit is the value of one more unit of a good or service to consumers, reflecting the additional satisfaction or utility gained from consuming one more unit.

The Value of One More Unit of a Good or Service